Central Plains Shun Report Special Issue: The Collapse of Another Myth — FX Controversy Chronicle — November 17, 2022

■That “virtual” can become an enemy

In recent times, bubbles have been bursting everywhere and appearing as “incidents,” and perhaps no industry has become more clearly such as the cryptocurrency industry.

Cryptocurrencies have fundamental vulnerabilities, one of which is that many participants—especially founders—either fundamentally lack a sense of compliance, lack accounting knowledge, or are simply fraudulent people, or are people who will do anything out of greed; there are great doubts about human nature and the actions based on it.

And another vulnerability is that there is no central bank in the world of cryptocurrencies in the first place.

Everything, including unified interest rates and liquidity, exists in the “virtual” world. In this world where the interest rate on US dollar deposits of 1–3 years is not a dream at 5%, the question of whether there is any meaning in holding cryptocurrency as an asset is now emerging.

■“Disguise” of Goodwill and Philosophy

This concerns November 2021. Shohei Ohtani, the pitcher for the Los Angeles Angels of MLB, was appointed ambassador for the crypto asset (virtual currency) exchange FTX…

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